Markets fall, “high probability of recession”

Markets were mostly lower on Thursday.

The S&P 500 plunged 3.4 percent to 3,023.94 and the STOXX Europe 600 tumbled 1.4 percent.

The COVID-19 remained the primary concern of investors as the total number of cases worldwide shot past 95,000.

Jim Bianco of Bianco Research thinks the S&P 500 could fall to 2,500.

Bianco said that “there's a high probability that we're going to have a recession either in the first or second quarter because of economic disruptions coming”.